Mentari Therapeutics (NASDAQ:MTRI) Coverage Initiated by Analysts at TD Cowen

TD Cowen initiated coverage on shares of Mentari Therapeutics (NASDAQ:MTRI) in a research note published on Wednesday,Zacks reports. The firm issued a strong-buy rating on the stock.

MTRI has been the topic of several other research reports. Jefferies Financial Group assumed coverage on Mentari Therapeutics in a research report on Tuesday. They issued a “buy” rating and a $30.00 price target on the stock. Guggenheim assumed coverage on Mentari Therapeutics in a research note on Monday. They set a “strong-buy” rating for the company. Finally, Stifel Nicolaus began coverage on Mentari Therapeutics in a research report on Tuesday. They set a “buy” rating and a $30.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Strong Buy” and an average price target of $30.00.

Mentari Therapeutics Price Performance

Shares of NASDAQ:MTRI opened at $15.61 on Wednesday. Mentari Therapeutics has a one year low of $5.75 and a one year high of $23.30.

Insiders Place Their Bets

In other news, major shareholder Adar1 Capital Management, Llc acquired 2,640 shares of the company’s stock in a transaction on Thursday, November 5th. The shares were bought at an average cost of $13.10 per share, with a total value of $34,584.00. Following the purchase, the insider owned 98,297 shares of the company’s stock, valued at $1,287,690.70. This represents a 2.76% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.85% of the stock is currently owned by company insiders.

About Mentari Therapeutics

InMed Pharmaceuticals Inc., a clinical stage pharmaceutical company, researches and develops cannabinoid-based therapies. The company’s lead product is INM-755, a cannabinol topical cream, which is in a second Phase I clinical trials for the treatment of epidermolysis bullosa. The company is also involved in developing INM-088, which is in preclinical studies for the treatment of glaucoma; and INM-405 for the treatment of pain. In addition, it engages in the development of cannabinoid-based treatments for various diseases, including dermatology and ocular diseases.